Executives considering options to acquire new assets or tie up with other producers

MELBOURNE, Australia—Glencore PLC could further prune its coal output to help reduce the market glut that has helped drive the commodity’s prices to multiyear lows.

In a rare public presentation, Glencore’s Australia-based head of global coal assets, Peter Freyberg, insisted coal was “a very, very important part” of the company, and that executives were considering options to acquire new assets or tie up with other producers with an...